UK finance leaders brace for international regulatory reform

BEPS due to come into force on 31 December bringing ‘significant’ change

Jenna Brown
clock • 2 min read

Finance professionals predict forthcoming international regulatory reforms will have a significant impact on their firm’s finance function, research has found.

The latest EY Tax and Finance Operations Survey (TFO) questioned 1,600 chief financial officers (CFO), and heads of tax and finance professionals across 32 jurisdictions, including 150 based in the UK. EY explained the reporting period for global 15% minimum tax rate called for under the base erosion and profit shifting (BEPS) Pillar Two is set to come into effect in the UK from 31 December. It added that its survey found 89% of UK finance leaders expected their tax planning and business operations to experience "moderate" to "significant" change once BEPS 2.0 is implemented. Howev...

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